Summary
Linde plc (LIN) reported via an 8-K filing on May 25, 2020, that its wholly-owned subsidiary, Linde Finance B.V., successfully issued €750 million of 0.250% Notes due 2027 and €750 million of 0.550% Notes due 2032 on May 19, 2020. The total aggregate principal amount of these new debt issuances is €1.5 billion, raising approximately €1,491.7 million in net proceeds after fees. These proceeds are designated for general corporate purposes. This debt issuance was made under Linde's European debt issuance program, which allows for up to €10 billion in outstanding notes. The Company itself, along with other key subsidiaries Linde GmbH and Praxair, Inc., provided guarantees for these notes, enhancing their creditworthiness. The notes have been admitted to trading on the Luxembourg Stock Exchange. This filing details the terms of the debt, the supporting agreements, and clarifies that the offering was made under Regulation S and is not registered in the U.S.
Key Highlights
- 1Linde Finance B.V. issued €1.5 billion in aggregate principal amount of new notes: €750 million of 0.250% Notes due 2027 and €750 million of 0.550% Notes due 2032.
- 2Net proceeds from the offering amounted to approximately €1,491.7 million, to be used for general corporate purposes.
- 3The debt issuance occurred under Linde's European debt issuance program, with a total authorized amount of €10 billion.
- 4Linde plc, Linde GmbH, and Praxair, Inc. provided guarantees for the notes, strengthening investor security.
- 5The notes were admitted to the official list of the Luxembourg Stock Exchange and the Euro MTF market.
- 6The issuance was conducted under Regulation S, meaning it was not registered with the U.S. Securities and Exchange Commission and was offered outside the United States.